Jim Cramer: No Signs of U.S. Oil Production Slowing Down

TheStreet's Jim Cramer is warning investors to be very careful with oil. He says we're getting a series of really interesting and contrary numbers. On one hand, he explains, we're seeing capital expenditure budgets just being slashed. On the other hand, the production output is still going higher. Cramer says that means in 2015 we're going to have more oil coming on and add to that the oil coming from the Gulf of Mexico this year. So you may think that with all these budget cuts there's going to be less oil produced, but it's just not playing out that way. Bottom line, Cramer says, don't run out and buy the oils, you have plenty of time to buy.